Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/197032
Authors: 
Liddle, Brantley
Year of Publication: 
2017
Citation: 
[Journal:] Economies [ISSN:] 2227-7099 [Volume:] 5 [Year:] 2017 [Issue:] 3 [Pages:] 1-11
Abstract: 
This paper provides an example of several modeling and econometric advances used in the panel estimation of energy demand elasticities. The paper models the demand of total, industrial, and transport energy consumption and residential and commercial electricity consumption by analyzing US state-based panel data. The paper employs recently developed dynamic panel methods that address heterogeneity, nonstationarity, and cross-sectional dependence. In addition, the paper (i) considers possible nonlinear relationships between energy consumption and income without employing polynomial transformations of integrated income; and (ii) allows for and calculates possible asymmetric relationships between energy consumption and price. Finally, the paper models energy efficiency improvements by a nonlinear time trend. To our knowledge no other paper has combined all of the econometric and modeling advances that are applied here. Most of the results conformed to expectations; however, limited to no evidence of nonlinearities and asymmetries were uncovered.
Subjects: 
disaggregated energy demand
dynamic common factor panel models
nonstationary
heterogeneous panels
nonlinear
asymmetric relationships
US states
JEL: 
C23
Q41
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Article

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